Forward Industries (NASDAQ:FWDI – Get Free Report) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, August 8th, Wall Street Zen reports.
Several other research firms have also issued reports on FWDI. Weiss Ratings raised shares of Forward Industries from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. B. Riley Financial restated a “buy” rating on shares of Forward Industries in a research note on Friday, May 15th. Cantor Fitzgerald upgraded shares of Forward Industries to a “strong-buy” rating in a research note on Thursday, July 2nd. Finally, Zacks Research raised shares of Forward Industries to a “hold” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.50.
Read Our Latest Stock Analysis on Forward Industries
Forward Industries Stock Down 0.7%
Forward Industries (NASDAQ:FWDI – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.84). Forward Industries had a negative net margin of 2,073.82% and a negative return on equity of 18.05%. The company had revenue of $10.78 million during the quarter. Analysts anticipate that Forward Industries will post -0.38 EPS for the current fiscal year.
Institutional Trading of Forward Industries
Several hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd bought a new position in Forward Industries during the 2nd quarter valued at $88,000. Aristides Capital LLC bought a new stake in shares of Forward Industries during the 4th quarter worth $180,000. Wolverine Asset Management LLC bought a new stake in shares of Forward Industries during the 4th quarter worth $909,000. ParaFi Capital LP bought a new stake in shares of Forward Industries during the 2nd quarter worth $684,000. Finally, Bank of New York Mellon Corp purchased a new stake in Forward Industries in the 2nd quarter worth about $739,000.
Forward Industries Company Profile
Forward Industries, Inc, together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for handheld electronic devices. The company operates in three segments: OEM Distribution, Retail Distribution, and Design. The OEM Distribution segment sources and distributes carrying cases and other accessories for medical monitoring and diagnostic kits; and various portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, GPS devices, tablets, and firearms.
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